MOF has successful auction
The Ministry of Finance (MOF) yesterday auctioned the superficies rights to six plots of state-owned land — of 11 plots on offer — for NT$439.27 million (US$14.6 million). The sale represents a premium of NT$21.57 million from a floor price of NT$417.7 million proposed by the ministry. The ministry yesterday auctioned 15 land development projects in the second of three rounds of bidding planned for this year, with winning bidders able to develop the land through the granting of 50-year superficies rights. The six plots sold included a development project in Keelung, which was sold for NT$13.01 million, the first such successful sale in the city, the ministry’s National Property Administration said in a statement.
Tax fears hit market
The local property sector was hammered yesterday by fears that the government will introduce taxes to curb speculation, a move that could limit housing transactions and squeeze profits for developers, dealers said. The greatest concern is that the government will impose a “home purchase tax” on buyers who already own three or more homes, dealers said. According to the Ministry of Finance, the number of people in Taiwan who own three or more homes is more than 660,000. On the local bourse, the property sub-index closed down 3.61 percent at 321.35 points, while the TAIEX closed down 0.85 percent at 7,832.65.